Housing Ministry, APDC to Partner on Renewed Hope Cities, Sales of Houses
... Dangiwa urges APDC to explore the idea of raising funds through the capital to provide houses for different classes of citizens
Housing and Urban Development Minister, Arc. Ahmed Musa Dangiwa, has told the management of Abuja Property Development Company (APDC) of the readiness of his Ministry to partner with the Company to enable them key in to the ministry's Renewed Hope Cities and Estates project across the nation.
Dangiwa made this known when he received in audience the delegation from the Abuja Property Development Company, (APDC), led by its Acting Managing Director, Akeem Aderogba." The delivery plan of Renewed Hope Cities and Estates is hinged on PPP. I urged you to engage with the PPP department of the Ministry in order to key in to the programme" he stated.
The minister also underscored the significance of knowledge sharing with APDC in the sell of the ministry's bulk of houses, saying that APDC has a success story for the ministry to learn from.
" I like to know your experiences in selling these house and your assessments over demands of the types of houses in FCT " he stated.
Accordingly, the minister added that leveraging on the experiences of APDC has become necessary and imperative because this is the first time the housing ministry is going into the huge volume of housing units for sale, noting that, APDC has a robust marketing department through which houses constructed by the company are comfortably sold to the public.
Commending APDC on the strong and effective management of their facilities accross the country, the Minister noted that, APDC Homes are properly managed, requesting the company to avail his staff of the knowledge on facility management and how to improve on it.
On renew hope estates and cities, the Minister explained, that the estates part of programme are planned specifically for low and middle income earners most of whom are of the organised labour and unions. He added that the types of houses constructed in the estates are one to three bedrooms bungalows and are sited in the six geo-political zones of the country.
Explainibg further, the Minister said that the Renewed Hope Cities and Estates is aimed to avert social inequality, providing a broad range of affordable ownership for both cities and estates, adding that, the option of getting the houses would include single digit loan and mortgage facility provided by the Federal Mortgage Bank of Nigeria, as long as interested buyers are contributors of National Housing Fund, NHF.
He also mentioned other options of purchase open to Nigerians to include the Rent-to-Own, Outright and Installment purchases, apart from the mortgage facility.
Meanwhile, the Minister has advised Abuja Property Development Company to explore the idea of raising funds through the capital market in order to provide houses for different classes of citizens in Nigeria.
" With adequate capital, the property company could provide houses for low and middle income earners as well as the high income earners" he stated.
To effectively, accommodate the low, middle and high income earners, the Minister advised the management of the APDC to reduce the specification for structures meant for low income earners and increase that of high end earners, suggesting they could be sold with 10% interest for low end earners and 20% for high end earners.
Speaking earlier, the Acting Managing Director APDC, Akeem Aderogba, said there were in the ministry to inform the minister of their request to key into the Renewed Hope Cities and Estates programme.
To convince the Ministry of their capability to key into the programme, Aderogba noted that APDC is a property development company who has grown from developing one estate in Gadi district, Abuja to four homes which are currently simultaneously developed and has never had a court case due to inability to deliver their mandate to Nigerians, pledging not to disppoint the Minister if request is granted.
Aderogbas listed the APDC Homes namely; APDC Capital Homes in Kaba, Gadi district, APDC Homes in Karsana, APDC Homes, Dongwari, Life Camp and APDC Homes in Millennium City, Kaduna, Kaduna state.
